Enterprise Holdings today announced its intent to acquire San Francisco-based Deem — an innovative managed-travel technology platform that includes Deem Work Fource and Deem Ground Work, a suite of online booking and travel technology products for business travelers, travel managers, travel-management companies, and suppliers.
More than 50,000 corporate customers and the world’s largest travel-management companies already use Deem’s travel and ground transportation software. Upon final acquisition, this transaction would provide Deem with an infusion of capital and resources to help further expand its product roadmap and increase the pace of product development and enhancements.
Travel & Ground Transportation Solutions
Enterprise Holdings serves more than 95% of the worldwide car rental market and has been a minority investor in Deem since 2016.
Enterprise and Deem have been working together to bring travel and ground transportation solutions to customers. Since 2011, Deem has provided the technology behind Enterprise Holdings’ EHIDirect travel booking platform for small and medium-sized corporations. Most recently, Enterprise and Deem partnered together to offer National Car and Driver in China through the National Car Rental brand.
Through Work Fource, Deem provides access to innovative travel technology that makes the corporate travel booking and travel experience more efficient for travelers, corporations and their travel agency partners. Additionally, Deem’s Ground Work platform provides a suite of online tools for booking pre-reserved ground transport for corporations and travel management companies.
The acquisition is expected to close in the first quarter of 2019 after satisfaction of customary closing conditions. Deem will continue to operate autonomously from its Silicon Valley headquarters and offer its suite of business travel technology including air and hotel as well as ground transportation options across major rental car, black car, ride-hailing, and rail service providers. John F. Rizzo will remain in his role as CEO, as will the rest of the Deem executive team.
Acquisition & Corporate Venture-Capital Strategy
Since Enterprise is a privately held business, it will not disclose financial terms of the Deem acquisition. However, Enterprise Holdings’ acquisition and corporate venture-capital strategy continues to focus on technologies and business models that not only can accelerate industry-leading transportation solutions, but also customer satisfaction in a rapidly changing marketplace.
In 2007, Enterprise purchased the National and Alamo brands, its largest acquisition to date. Since 2008, Enterprise has spent almost $2.4 billion making acquisitions and corporate-venture capital investments or commitments in the U.S., Canada, the U.K., France, Ireland, Spain, Brazil, and China. Acquisitions include car rental companies, carshare operations, technology platforms, and franchises.